Are you looking to purchase property with a high return on investment (ROI)? While every landlord hopes for this scenario, it’s not always an option with poor market conditions in some areas in Florida. However, the Jacksonville, FL real estate market is one of the best cities to purchase property due to population growth. From 2013 to 2018, the population of Jacksonville has risen by 8%. The median home price in Jacksonville is 33% lower than the national average. 

The rental yield in Jacksonville is one of the highest in the nation. Some rental areas have seen significant revenue increase, many in excess of 3-10%. Over the last year, the job market has increased by 3%, leading to additional growth opportunities. The overall cost of living in Jacksonville is lower than many other regions, and it includes some elements that many people appreciate like warmer weather, no state income tax, and a conductive business climate. 

Duvall County in Growing

Duvall County is growing thanks to its family-friendly approach. Many people come here thanks to festivals and the military presence, but they fall in love with water sports, golfing, art events, and nightlife. Jacksonville has the longest shoreline in the nation, with 22 beaches! The tourism industry and costal location make it one of the most popular real estate investment options in 2019. 

In addition to having an attractive area to work with, Duvall County has shown significant real estate increase over the last decade. Some of the improvements in real estate include:

• A 10% increase in home sales prices since 2016
• Home equity increase of about 6% yearly, with many new listings up by $5,000 or more over a year
• Closed sales increase 12% in 2015 and an average of 5% since

A positive real estate market helps investors to know if the rental market will be in demand. With the real estate market proving to be positive, the job growth is the next thing to consider. Many younger investors are finding better employment opportunities in the Jacksonville area. 

Investing in Jacksonville also comes with the decision of purchasing older homes. Investors find flipping and selling to be an ideal option as many of the younger first-time homebuyers are seeking older homes with modern appeal. When done correctly, flipping homes can be a profitable venture. A property management company can provide assistance in locating lucrative real estate for flipping. In addition to flipping single-family units, multi-family complexes are also proving excellent returns. 

Keyrenter Property Management Jacksonville can provide assistance in locating the right property investment opportunities in the area. We can recommend the right real estate investment options, along with helping you to effectively manage the property.

Tenants and landlords can have excellent relationships until there is a problem. When dealing with pest control, it almost always causes problems for both parties. Pest issues can leave the property unhealthy to live in. Failure to remedy a pest problem in a timely manner can be costly and could hurt business.

When Do Tenants Pay for Pest Control

In most situations, landlords will pay for pest control as part of the rental property agreement. However, there are situations where a tenant will pay.

• The tenant fails to maintain a clean living environment (such as failing to throw away trash)
• Poor upkeep within the living area due to non-reported leaks 
• Tenant pets that are attracting other issues like fleas

An exterminator will be able to determine if the tenant has living conditions that are leading to pest problems. Failure to clean the property and having excess moisture is typically when the tenant will need to pay for the cost of pest control.

Landlord Rights

Inspecting the rental property with notice allows landlords the ability to stay in the know with what the condition of the property looks like. Pet conditions and living conditions leading to pest issues are concerning and need to be addressed. Landlords that discover unsanitary conditions can issue the tenant a notice to comply with the standards in the contract.

What About Bed Bugs?

A common problem landlords deal with relate to bed bugs. Bed bugs are challenging because they can spread quickly, and they can be difficult to identify which tenant brought them into a building. If the property was bed bug free to start and there are bed bugs when the tenant is leaving, they are liable for the pest issues. The renter cost will be taken from their deposit if they fail to pay for the cost of pest control independently.

Hiring a property management company to create a solid rental property agreement is the best way to educate tenants on the policies and procedures related to pest control issues. Contact Keyrenter Property Management in Jacksonville to learn more about pest control and tenant issues.

When evictions occur, everyone loses. Avoiding evictions benefit everyone involved. For tenants, evictions can significantly impact their credit and their ability to find a new place to live. For landlords, evictions are both time-consuming and costly. Taking a proactive approach to the landlord-tenant relationship can help landlords avoid evictions.

Open, Honest Communication

Creating conditions where the tenant feels they can communicate openly with the landlord helps to solve conflicts without eviction. Eviction is always a last resort because it creates negative consequences for everyone.

Manage Tenant Concerns

If a tenant brings a concern to the landlord’s attention, it is vital for that concern to be managed in an efficient, reasonable manner. Taking care of any concerns quickly can stop problems from growing.

Guidelines

Create a set of guidelines that prospective tenants must fit. Do not make exceptions. Making exceptions because a prospective tenant seems to be good-natured and trustworthy, despite having a horrible credit score, can have significant consequences in the long run.

Background Checks

Thorough background checks are essential. Failure to perform appropriate background checks, including credit reports and prior eviction history, can cause many problems. A bad tenant can be disastrous for your business. Taking the time to ensure that all of these checks are done can give you peace of mind about your tenant.

Here at Keyrenter, we have a 14-point tenant screening process that weeds out bad tenants before they become a problem. Our eviction rate is less than 1%, which prevents significant problems for both landlords and tenants.

The necessary steps to avoid future evictions can be time-consuming, but they are far better than the alternative. Working with Keyrenter can help you maintain high-quality tenants without taking extreme amounts of time. For more information about how we can help you avoid evictions, contact us at Keyrenter in Jacksonville today!